LatinNews Daily - 21 September 2021

In brief: Brazil’s Petrobras aims for carbon neutrality in operations

* Brazil’s state-owned oil company Petrobras has announced that it will aim to become carbon neutral in its direct operations and also seek to influence partners that manage operations in which Petrobras has a non-direct role to achieve this same objective. The timeline for bringing its greenhouse gas emissions to net zero is “compatible with what is outlined in the Paris Agreement [on climate change]”, the company said in a note (although did not specify a date). Petrobras explained that this is part of a strategy agreed by the members of the Oil and Gas Climate Initiative (OGCI), of which it is part, and noted that the pursuit of net zero reinforces its efforts to reduce overall emissions, “maintaining our competitiveness as a low cost and low carbon producer”.

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